Metal in US Nickel Worth 7 cents

[dgridley]

Rising prices in metals have caused concern that people might start melting coins to recover the metals used for a profit.

New legislation has been passed to exact penalties for doing so: prison time and up to $10,000 fine.

The metal in a US nickel is woth 6.99 cents. The penny is worth 1.12 cents.

http://www.usatoday.com/money/2006-12-14-melting-ban-usat_x.htm

 

[RyuKenLi]

How would they know if you melted them?

 

[01wojtowicz]

This happened recently in the UK with one of the coins, there was also a law saying that the money cannot be melted, but there was a loophole so that people could melt it outside the UK and sell it their (but I dont know if they could use the profit in the UK) so it might be the same over there if any of you have alot of coins and want to emigrate!